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Walmart sales surge, but profit takes a hit
AP, New York
PUBLISHED ON FEB 18, 2021 06:16 PM IST
The nation's largest retailer also Thursday that sales at stores opened at least a year rose 8.6% for the period ended Jan. 31, compared with 6.4% in the previous quarter.
Flipkart gets new directors ahead of IPO
By Madhurima Nandy | Livemint, Bengaluru
UPDATED ON DEC 25, 2020 05:21 AM IST
Keki Mistry, vice-chairman and chief executive of mortgage lender Housing Development Finance Corp. Ltd (HDFC); Walmart’s chief technology officer Suresh Kumar; and Leigh Hopkins, executive vice-president of strategy and development for Walmart International, will also join Flipkart’s board.
Feds sue Walmart over role in opioid crisis
By Associated Press | Posted by Deepali Sharma | Washington
PUBLISHED ON DEC 23, 2020 06:14 AM IST
Federal law required Walmart to spot suspicious orders for controlled substances and report those to the Drug Enforcement Administration, but prosecutors charge the company didn’t do that.
Black Lives Matter murals to be preserved as expressions of anger and pain born of outrage over racial injustice
By Associated Press | Posted by Zarafshan Shiraz | Indianapolis
UPDATED ON DEC 14, 2020 09:07 AM IST
“These walls speak. They’re the expressions of communities. We want these feelings, hopes, calls to action to live on”: Two Black women form Save the Boards to Memorialize the Movement, part of a push to preserve the Black Lives Matter murals
Walmart plans to triple export from India to $10bn/yr by 2027: Doug McMillon
By Mint Correspondent | Hindustan Times, New Delhi
UPDATED ON DEC 11, 2020 05:47 AM IST
India is already one of the top sourcing markets for Walmart, one of the world’s top retailers, with annual exports worth $3 billion.
‘India is important part of the Walmart story’: CEO Doug McMillon at HTLS 2020
By hindustantimes.com | Edited by Sparshita Saxena | Hindustan Times, New Delhi
UPDATED ON DEC 10, 2020 09:21 PM IST
‘We are committed to supporting the economic growth of India,” the Walmart CEO said.
HTLS 2020: Walmart CEO on journey from ‘chaos’ to ‘gaining clarity’ amid pandemic
By hindustantimes.com | Edited by Sparshita Saxena | Hindustan Times, New Delhi
UPDATED ON DEC 10, 2020 09:23 PM IST
McMillon was speaking on day 7 of HTLS 2020 which also saw Madhya Pradesh chief minister Shivraj Singh Chouhan’s participation in the opening session.
Walmart to increase Indian exports to $10 billion by 2027
By Press Trust of India | Posted by Nilavro Ghosh | New Delhi
PUBLISHED ON DEC 10, 2020 06:41 PM IST
The expansion in sourcing will include helping develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and general merchandise, along with apparel, homeware and other key Indian export categories, the company said in a statement.
Walmart begins work on $10 billion Flipkart listing
By Anirudh Laskar | Livemint, Mumbai
UPDATED ON DEC 07, 2020 05:04 AM IST
The Bentonville, Arkansas-based Walmart is planning to sell around 25% in India’s largest online retailer, the people said, requesting anonymity.
Flipkart announces spin-off of PhonePe, to remain majority shareholder
By Reuters| Posted by Mallika Soni | Bengaluru
PUBLISHED ON DEC 03, 2020 01:21 PM IST
PhonePe, which competes with Alibaba-backed homegrown payments pioneer Paytm and GooglePay, will raise $700 million in primary capital, Bengaluru-based Flipkart said in a statement.
Toilet paper limits, empty shelves are back as Covid-19 surges
By Associated Press | Posted by Kanishka Sarkar | New York
UPDATED ON NOV 18, 2020 06:40 AM IST
The biggest supply issue seems to be paper products: 21% of shelves that stock paper towels and toilet paper are empty, the highest level in at least a month, according to market research company IRI.
Thanksgiving feast or famine? Turkey industry left to guess
By Associated Press | Posted by Shivani Kumar
UPDATED ON OCT 30, 2020 02:46 PM IST
Millions of Americans are expected to have scaled-down celebrations amid the pandemic, heeding official warnings against travel and large indoor gatherings.
Citing ‘civil unrest’, Walmart removes guns on display at US stores
By Associated Press | Posted by Prashasti Singh | New York
UPDATED ON OCT 30, 2020 06:57 AM IST
“We have seen some isolated civil unrest and as we have done on several occasions over the last few years, we have moved our firearms and ammunition off the sales floor as a precaution for the safety of our associates and customers,” Walmart said.
Walmart sues US in pre-emptive strike in opioid abuse battle
By Associated Press | Posted by Kanishka Sarkar | New York
PUBLISHED ON OCT 23, 2020 05:55 AM IST
Walmart says it is seeking a declaration from a federal judge that the government has no lawful basis for seeking civil damages from the company.
Tata group wants a slice of BigBasket
By Swaraj Singh Dhanjal and Deborshi Chaki | Livemint, Mumbai
UPDATED ON OCT 15, 2020 08:17 AM IST
Two people familiar with the matter said the Mumbai-based conglomerate may in the first step join the ongoing fundraise of Alibaba-backed BigBasket, which is looking to raise around $200 million in primary equity infusion.
Indian-origin billionaire brothers from UK buy retail giant Asda
By Prasun Sonwalkar | Hindustan Times, London
UPDATED ON OCT 06, 2020 07:14 PM IST
A consortium of Zuber Issa and Mohsin Issa and private equity firm TDR Capital will take a majority stake in Asda, a spokesperson for the brothers and the equity firm said.
Walmart to sell UK unit Asda in $8.8 billion deal
By Associated Press| Posted by: Harshit Sabarwal | London
UPDATED ON OCT 02, 2020 05:45 PM IST
Brothers Mohsin and Zuber Issa, along with investors TDR Capital will acquire a majority of Asda, while Walmart will retain a minority stake and a seat of the board, the parties said in a joint statement issued Friday. Details of the deal weren’t released.
Walmart looking at up to $25 billion investment in Tata Group’s ‘super app’
By Reuters | Bengaluru
PUBLISHED ON SEP 29, 2020 10:26 AM IST
According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata’s e-commerce business and Flipkart, Walmart’s e-commerce unit, according to the report.
Sensex, Nifty surge 0.5% in early trade
By Reuters | Posted by Karan Manral | Bengaluru
UPDATED ON SEP 29, 2020 09:54 AM IST
Tata Group stocks have climbed after a report that Walmart may buy a stake in the conglomerate’s new digital platform.
Walmart Plans to Hire 20,000 Holiday Staff to Meet Online Demand
By Bloomberg | Posted by Amrutha Kosuru
UPDATED ON SEP 23, 2020 12:06 PM IST
Walmart is readying itself for a holiday e-commerce battle with Amazon.com Inc. by bringing on more seasonal staff to handle online orders at its US distribution centers. The beginning hourly rate is $15.75 and goes up to $23.75, the company said in a press release Wednesday.
Delhi HC stays tax assessment against PE firm Tiger Global
By Prathma Sharma and Jayshree P Upadhyay | Hindustan Times, New Delhi/Mumbai, New Delhi/mumbai
UPDATED ON SEP 23, 2020 04:57 PM IST
The tax department aimed to start tax assessment proceedings against the US-PE firm after an Authority of Advanced Rulings (AAR) order that had denied it India-Mauritius treaty benefits.
Trump averts TikTok ban in US with his ‘blessing’ for Oracle deal
By Yashwant Raj | Hindustan Times, Washington
UPDATED ON SEP 20, 2020 11:50 PM IST
Oracle and Walmart will acquire 12.5% and 7.5% respectively in a new company which will be called TikTok Global while ByteDance, the Chinese parent company, will continue to hold a stake.
Flipkart may list overseas by 2021
By Madhurima Nandy and Tarush Bhalla | Livemint, Bengaluru
UPDATED ON SEP 17, 2020 05:00 AM IST
Flipkart would look at an overseas listing, either in the US, where its parent Walmart Inc. is based, or another country, the person said on condition of anonymity. Walmart had in 2018 acquired a majority stake in Flipkart for $16 billion, valuing the Bengaluru-based company at $21 billion.
What slowdown? Amazon seeks to hire 33,000 people
By Associated Press | Posted by Arpan Rai | New York
UPDATED ON SEP 09, 2020 06:35 PM IST
Amazon can afford to grow its workforce: It is one of the few companies that has thrived during the coronavirus outbreak.
Walmart partners with Microsoft in bid for TikTok
By Reuters | Posted by Shivani Kumar | Reuters
UPDATED ON AUG 27, 2020 10:22 PM IST
The sale of TikTok is happening as the company is under fire from the administration of US President Donald Trump as a potential national security risk due to the vast amount of private data the app is compiling on US consumers.
Amazon faces new antitrust challenge from Indian online sellers: Report
By Reuters | Posted by Kanishka Sarkar | New Delhi
UPDATED ON AUG 26, 2020 09:31 PM IST
In the latest case, the All India Online Vendors Association, members of which sell goods on Amazon and Flipkart, allege Amazon engages in unfair business practices.
Walmart’s Flipkart to offer 90-minute deliveries in India
By Reuters| Posted by Susmita Pakrasi | Bengaluru
PUBLISHED ON JUL 28, 2020 01:59 PM IST
Flipkart said its hyperlocal service, dubbed Flipkart Quick, will also sell mobile phones and stationery items, taking it a step further than Amazon’s quick-delivery service that mainly offers just groceries.
Flipkart acquires Walmart India, to launch Flipkart Wholesale in Aug
By Press Trust of India | Posted by Anubha Rohatgi | New Delhi
UPDATED ON JUL 23, 2020 02:48 PM IST
The announcement comes a week after Flipkart had said it had raised USD 1.2 billion in funding from a Walmart-led investor group. In 2018, Walmart Inc had invested USD 16 billion for acquiring 77 per cent stake in the group.
Reliance seen emerging as bigger threat for US firms like Amazon, Walmart
By Reuters | Posted by Anubha Rohatgi | New Delhi / Bengaluru
UPDATED ON JUL 16, 2020 02:28 PM IST
The recent stake sales gave Reliance a foreign partner for JioMart, which was launched this year. Facebook’s WhatsApp, which counts India as its top market with 400 million plus users, will work closely in connecting small retailers to JioMart.
Walmart to hire 50,000 more workers in coronavirus-driven hiring spree
By Reuters | Reuters
UPDATED ON APR 18, 2020 10:59 AM IST
The measures to control the spread of the disease have brought economic activity to a virtual standstill, forcing companies to take drastic steps to save cash.
